Congrats to AJR! 🌟 They are brilliant.
But I don't agree with their idealized portrayal of institutions in Western development
It is historically inaccurate, if not ideologized
Thus, not only do they struggle to explain China, they also can't explain why... See more
Yuen Yuen Angx.comCongrats to AJR! 🌟 They are brilliant. But I don't agree with their idealized portrayal of institutions in Western development It is historically inaccurate, if not ideologized Thus, not only do they struggle to explain China, they also can't explain why Western economies like the US prospered despite being as corrupt as China is today
Congratulations to @DAcemogluMIT, @baselinescene & James Robinson on their @NobelPrize in Economic Sciences. While their work on institutions is important, it's crucial to remember that development is complex.
As @yuenyuenang, @mushtaqkhan100 & Ha-Joon Chang argue, effective institutions must be context-specific, not just replicas of Western models.... See more
As @yuenyuenang, @mushtaqkhan100 & Ha-Joon Chang argue, effective institutions must be context-specific, not just replicas of Western models.... See more
Mariana Mazzucato • Tweet
Why Nations Fail is a bit longer than The Communist Manifesto , but it is essentially The Bourgeois Manifesto . Merchants having become wealthy from the Atlantic trade win property rights in England, already primed for this breakthrough. Resultant regime called inclusive , though the merchants were primarily slavers.
They will underline however... See more
They will underline however... See more
Rakesh Bhandari • Tweet
At that point, China will have to choose between A) expensive upkeep and redevelopment to keep cities looking new, or B) patching up and painting over old buildings to save money. Japan actually chooses the former, which is why it still looks nice — but this eternal construction and beautification costs a lot of society’s resources. Hong Kong and... See more